Woman entrepreneur with ‘time on her side’ succeeds as watch retailer

Woman entrepreneur with ‘time on her side’ succeeds as watch retailer

SME Inspirations

GlobalLinker Staff

GlobalLinker Staff

305 week ago — 7 min read

A chance meeting with the famed watchmakers Fossil Group set the stage for Manisha Sangani’s firm, Just Lifestyle, to delve into the world of watch retail. Just Watches began distribution of watches in 2000 and began retailing in 2005. Today they stock Fossil, Michael Kors, Calvin Klein among other premium watch brands in their 74 retail stores across 37 cities. Leveraging their knowledge of the market, they launched their own brand ‘Aspen’ which was successful and led to the launch of their second brand ‘Escape Brazen’. Growth plans are ambitious—Manisha aims to have 250 stores by 2022, incorporating the insights from technology like artificial intelligence to create the best in-store customer experience. Manisha prides herself on finding the right balance as a female entrepreneur in a largely male domain.

 

In conversation with GlobalLinker (GL) Manisha Sangani (Manisha) shares the journey of her enterprise.

 

GL:Tell us about your business.

 

Manisha: My husband Shailesh and I started our entrepreneurial journey in the year 2000 by marketing 18 international watch brands. After some initial success, the companies set up their subsidiary offices in India. We chose not to let this adversity affect us. We in fact strengthened our relations with these brands and with the learning and knowledge we had gained, we started our own brand and launched our first retail store in 2004. We had two formats— Just Watches & Just In Vogue. We are now a leading retail chain of 74 stores in 37 cities across India. Our stores reflect a very welcoming and youthful ambience and are the only stores with curated merchandise in smaller space, ensuring the best assortment with affordable pricing. We plan to have 250 stores by 2022.

 

 

I have always had a strong affinity for design and aesthetic and wanted to have a brand dedicated to the strength, mettle and tenacity of the women of India. In 2007, I realised my dream with our brand Aspen. Today Aspen is one of the leading watch brands with unique designs as its USP. We launched Brazen for the bold woman and Escape for men looking for elegant timepieces.

Our brands reflect our motto which is ‘bridge to luxury with affordability for the aspirational Indian’.

 

GL:What are some of the innovative things you are doing in your business?

 

Manisha: We are one of the few organised retailers to have curated merchandise. We have become stronger on the tech front and our business employs ERP software. We are also one of the few organised retailers that has a 360* service station for complete watch overhaul.

 

On the design and product front we recently launched a watch with a concept of fashion and health. The watch is designed using natural gemstones. We want to cater to the needs of the Indian woman who wants her freedom and independence without letting go of her heritage or Indian culture.

 

GL: What are the challenges you have faced in establishing your business?

 

Manisha: It was not easy establishing the business as a woman. There were some hiccups and it took time to organise and find the right professional team who understood our vision, business and brand. Now that everything is organised, for me the business runs on remote control. Though there are still a few financial issues, given that the building of a brand takes lot of capital investment. Creating synergy between employees and the work environment was a tough task. We now have a very transparent and healthy work environment where we feel that our employees are self-motivated and passionate about their respective roles.

 

I have discovered that as a business owner, your energy is contagious. If you look depressed or have a negative attitude it’s going to spread throughout your entire team. You need to be a positive leader, no matter how bad a particular situation might be. Your team needs constant motivation to perform at its peak level.

 

Being a data-driven company, technology plays a very important role in the business. We had to try out various kinds of software and now we are finally satisfied with what we are using.

 

 

Government rules and regulations like implementation of GST and demonetisation has also affected industry growth. Despite being a fashion brand with lot of mid-range products, the tax rates applied are that of luxury category.

 

GL: How did you hear of GlobalLinker? How has it helped you?

 

Manisha: I heard about GlobalLinker through my association with the Retailers Association of India (RAI). I believe GlobalLinker is a Google for Indian businesses—a definitive business networking platform for SMEs.

 

GL:  What is your big business dream?

 

Manisha: Technology and artificial intelligence has changed the face of retail by enhancing the consumer experience in every possible way. Retailers can analyse customer data to improve interactions with shoppers and ensure better inventory management. This has enabled the retailers to provide convenient, responsive and personalised services to the customers.

 

Along with the superior merchandise we want to build on this technology to create the best ambience for customers.  We are among the top three chains in the organised watch retail sector. In the coming years, we want to move to the number one position. With a goal of affordability and having a harmonious workplace with sound financials, we want to ensure all stakeholders, the team, the customers and the founders are happy.

 

GL:  What is your message to aspiring entrepreneurs?

 

Manisha: Live your passion, believe, work hard to bring it alive. Nothing is impossible. Work smartly— collaborate, bring on people smarter than you and share your passion. To have a good start for any enterprise, one needs to have a business plan and finances in place.  Financial acumen will help in the long run - keeping the operational cost in check with more focus on ROI. Focus on the business plan for the next five years including product development, marketing and technology. Work on a plan which is scalable.  One can be a leader only when you win the trust and support of your team. Passion, belief in the product and self-motivation are also essential qualities that people in any business should possess.

 

Work-life balance is important, don’t burn out, and have confidence that there are more people like you out there.

 

Network with Manisha Sangani by clicking on the 'Invite' button on her profile.

 

Disclaimer: This article is based solely on the inputs shared by the featured member. GlobalLinker does not necessarily endorse the views, opinions & facts stated by the member.

Comments

Posted by

GlobalLinker Staff

We are a team of experienced industry professionals committed to sharing our knowledge and skills with small & medium enterprises.